Drill for industry policy
New Delhi, June 21: The commerce and industry ministry has constituted six groups for preparing a framework for the country's new industrial policy that includes taxation, MSME and innovation, among others. The department of industrial policy and promotion (DIPP) is working on this policy which would completely revamp the industrial policy of 1991, an official said.
Infy lawsuit
Bangalore, June 21: A former head of immigration at Infosys in the US has filed a lawsuit against the company, accusing it of "discrimination" against non-South Asian employees, and demanded a trial by jury. The law suit filed by Erin Green, before a US district Court on June 19, names two senior company officials, head of global immigration Vasudeva Nayak and executive vice-president and global head of talent and technology, Binod Hampapur, and makes serious charges against them.
CDSL offer
New Delhi, June 21: The initial public offer of Central Depository Services (India) Ltd (CDSL) received overwhelming response from investors as the issue was subscribed 169.91 times on the last day of the three-day bidding today. The IPO of BSE's depository arm, to raise Rs 524 crore, received bids for over 421 crore shares against the total issue size of 2.48 crore shares, according to NSE data till 8 pm.
Federal Bank
Mumbai, June 21: South-based Federal Bank today launched a institutional sale of shares, aiming to raise around Rs 2,000 crore or $310 million in capital. There is an option to upsize the issue by Rs 500 crore or $77 million, sources said.
Hathway IPO
New Delhi, June 21: The initial public offering of GTPL Hathway, which offers cable TV and broadband services, was subscribed 27 per cent on the first day of bidding today.
Steel study
New Delhi, June 21: The steel ministry and the oil ministry will examine options of restoring domestic gas supply to steel plants that are stranded for want of natural gas from domestic sources.
